Global National: July 13, 2022 | Bank of Canada surprises many with key interest rate hike

With inflation in this country at a 39-year high there were signals this was coming - but today the Bank of Canada surprised most forecasters with the largest hike to its key interest rate in nearly 25 years. It’s gone up a full percentage point to 2.5 per cent and is the largest increase since August of 1998 and the fourth since March of this year. The change will have an immediate impact on all kinds of debt including variable rate mortgages. Anne Gaviola has more.

Canadians are already feeling the pinch of higher prices on just about everything and the cost of groceries will just keep on climbing. The global food supply is being impacted by weather, labor, and geopolitics like Russia’s invasion of Ukraine. And while the official numbers are expected last week, it’s clear that Canadians are paying more than they have in decades. Mike Drolet has more.

Ontario announced today that they will expand eligibility for a fourth COVID-19 booster shot as other provinces do the same. Jamie Mauracher looks at whether or not the timing of the booster shot matters, and when exactly people should be looking at getting the booster dose for maximum efficacy.

A day after Ukrainian President Volodymyr Zelenskyy strongly criticized Canada over its decision to allow a Canadian company to return turbines from a Russian pipeline that supplies natural gas to Germany, the Ukrainian World Congress says it plans to sue Canada over the decision. Abigail Bimman reports.

Newly leaked surveillance footage from inside Robb Elementary School during the shooting in Uvalde, Texas seems to contradict what many gun advocates say is the best response to a shooting: a "good guy with a gun." As Jackson Proskow reports, the footage shows heavily armed police officers standing in the hallways of the school as the shooting continued, ultimately killing 19 students and two teachers.

A devastating economic meltdown that has seen skyrocketing food and fuel prices has led to mass protests in the streets of Sri Lanka. A curfew has been instituted after protesters occupied the presidential palace and government offices in the capital. The president has now fled and protesters are calling for more leaders to step aside. Crystal Goomansingh reports.

There are all sorts of museums around the world dedicated to everything from historical triumphs to natural wonders. In Sweden there's a museum dedicated to humanity's greatest failures and now that museum has branched out with an exhibition in Calgary. So if you are in Calgary this summer you can stop by and see some history's biggest innovation flops. As Heather Yourex-West reports it might be billed as history's biggest failures but the exhibit is about teaching and learning, not just about failure.

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